The home loan EMI on a ₹2 crore flat is about ₹1.35 lakh a month if you borrow the maximum of ₹1.5 crore at an illustrative 9% over 20 years. The Reserve Bank of India caps a home loan at 75% of the value above ₹75 lakh, so ₹50 lakh must come from you. This guide shows the working at three rates and three tenures so you can see how each choice moves the number.
How much can you borrow on a ₹2 crore flat?
For a home above ₹75 lakh, the loan is capped at 75% of the property value. On ₹2 crore that is ₹1.5 crore. Confirm the cap and your eligibility with your lender, because banks also look at income and existing loans. You also need cash for stamp duty and registration, which is about ₹13.2 lakh on this value. See stamp duty on a ₹2 crore flat in Bangalore for the sum.
What is the EMI on a ₹1.5 crore loan?
The table shows the monthly EMI and the total interest paid over the full tenure. The rates are illustrative, not offers. Banks set their own rates, which change with the market and with your profile.
| Illustrative rate | Tenure | Monthly EMI | Total interest |
|---|---|---|---|
| 8.5% | 15 years | ₹1,47,711 | About ₹1.16 crore |
| 8.5% | 20 years | ₹1,30,173 | About ₹1.62 crore |
| 8.5% | 25 years | ₹1,20,784 | About ₹2.12 crore |
| 9.0% | 15 years | ₹1,52,140 | About ₹1.24 crore |
| 9.0% | 20 years | ₹1,34,959 | About ₹1.74 crore |
| 9.0% | 25 years | ₹1,25,879 | About ₹2.28 crore |
| 9.5% | 15 years | ₹1,56,634 | About ₹1.32 crore |
| 9.5% | 20 years | ₹1,39,820 | About ₹1.86 crore |
| 9.5% | 25 years | ₹1,31,054 | About ₹2.43 crore |
Illustrative figures for a loan of ₹1.5 crore, worked as a fixed rate reducing balance loan with monthly instalments. Real loans may use a floating rate, so the EMI or tenure can change.
How is the EMI worked out?
The formula is EMI = P × r × (1 + r)n ÷ ((1 + r)n minus 1), where P is the loan, r is the monthly interest rate (the yearly rate divided by 12) and n is the number of monthly instalments. For ₹1.5 crore at 9% over 20 years, r is 0.0075 and n is 240, which gives the ₹1,34,959 above. Our EMI calculator in the tools section does this for any amount, rate and tenure.
What do the numbers tell you?
- A longer tenure cuts the EMI but adds a lot of interest. At 9%, moving from 20 to 25 years lowers the EMI by about ₹9,000 a month but adds about ₹54 lakh of interest.
- A small rate change matters. At 20 years, half a percentage point moves the EMI by about ₹4,800 a month.
- A shorter tenure saves the most. Taking 15 years instead of 20 at 9% costs about ₹17,000 more a month and saves about ₹50 lakh of interest.
Why does the EMI start before you move in?
On an under construction flat, the bank pays the developer in stages, and you pay interest only on the amount paid out so far. That early payment is often called a pre EMI. The full EMI starts when the loan is fully paid out. Our guide to the Prestige Two Good plan explains one scheme where Prestige's price sheet for Evergreen says Prestige bears the pre EMI payments until May 2028, with the customer paying from June 2028 at prevailing rates. Check the terms of any such scheme in writing, and confirm which banks and what share of the loan it covers.
What else adds to your monthly budget?
The EMI is not the whole cost. Maintenance, a parking charge, property tax and insurance sit on top, and the cost sheet adds GST and possession charges. Our guide to reading a Bangalore cost sheet lists those lines. Prestige now quotes ₹2.40 Cr onwards for Southern Star and ₹1.80 Cr onwards for Evergreen. Both are starting figures before GST and other charges, so work your EMI from the cost sheet of the home you want, not from the headline.
What should you do before choosing a loan?
- Ask two or three lenders for their current rate and processing fees in writing.
- Ask whether the rate is fixed or floating, and what happens to your EMI or tenure if it moves.
- Check whether prepayment is free, because extra payments cut the interest sharply.
- Confirm the loan cap and the property's eligibility. A property with a B khata can be refused. See A khata against B khata in Bengaluru.
